WEEKLY STATE-LEVEL

ECONOMIC CONDITIONS

NOTES: The economic conditions indices are computed with mixed-frequency dynamic factor models with weekly, monthly, and quarterly variables that cover multiple dimensions of state economies (see Baumeister, Leiva-León and Sims, 2021). The indices are scaled to 4-quarter growth rates of U.S. real GDP and normalized such that a value of zero indicates national long-run growth. The gray shaded areas indicate NBER recessions.